Markets Up on Belief End of Shutdown Is Near

For a second day, the markets were optimistic that the government shutdown might soon come to an end. The Dow Jones Industrial Average gained 111 points and 15 of 17 Mortgage Industry Equity Composite stocks closed higher.

MGIC Investment Corp. is leading the pack, up 3.31%, followed by KB Home, up 2.16%, and OceanFirst Financial, up 1.66%.

Redwood Trust declined 0.79%, while Bank of America was down 0.28%. B of A competitors JPMorgan Chase and Wells Fargo both reported disappointing 3Q13 results.

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